BFLB vs. ZMAY
BFLB (BufferLABS US Equity Dynamic Buffer ETF) and ZMAY (Innovator Equity Defined Protection ETF - 1 Yr May) are both Defined Outcome funds. Both are actively managed. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.
Performance
BFLB vs. ZMAY - Performance Comparison
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Returns By Period
In the year-to-date period, BFLB achieves a 5.47% return, which is significantly higher than ZMAY's 1.65% return.
BFLB
- 1D
- -0.06%
- 1M
- -0.57%
- YTD
- 5.47%
- 6M
- 4.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMAY
- 1D
- 0.04%
- 1M
- -0.44%
- YTD
- 1.65%
- 6M
- 1.71%
- 1Y
- 4.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BFLB vs. ZMAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BFLB BufferLABS US Equity Dynamic Buffer ETF | 5.47% | 1.82% |
ZMAY Innovator Equity Defined Protection ETF - 1 Yr May | 1.65% | 1.23% |
Correlation
The correlation between BFLB and ZMAY is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025 | 0.72 |
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Return for Risk
BFLB vs. ZMAY — Risk / Return Rank
BFLB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZMAY
BFLB vs. ZMAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BufferLABS US Equity Dynamic Buffer ETF (BFLB) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BFLB | ZMAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.66 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.85 | — |
| Martin ratioReturn relative to average drawdown | — | 34.83 | — |
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Drawdowns
BFLB vs. ZMAY - Drawdown Comparison
The maximum BFLB drawdown since its inception was -5.14%, which is greater than ZMAY's maximum drawdown of -0.70%. Use the drawdown chart below to compare losses from any high point for BFLB and ZMAY.
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Drawdown Indicators
| BFLB | ZMAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.14% | -0.70% | -4.44% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.70% | — |
Current DrawdownCurrent decline from peak | -1.11% | -0.60% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -0.08% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.14% | — |
Volatility
BFLB vs. ZMAY - Volatility Comparison
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Volatility by Period
| BFLB | ZMAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.79% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.30% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.74% | 1.60% | +6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.74% | 1.69% | +6.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 1.69% | +6.05% |
BFLB vs. ZMAY - Expense Ratio Comparison
Both BFLB and ZMAY have an expense ratio of 0.79%.
Dividends
BFLB vs. ZMAY - Dividend Comparison
Neither BFLB nor ZMAY has paid dividends to shareholders.
Frequently Asked Questions
BFLB and ZMAY have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BFLB and ZMAY have the same expense ratio: 0.79% per year.
BFLB and ZMAY have nearly identical dividend yields, around 0.00%.
They also come from different issuers: BufferLABS and Innovator.
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